SCHEDULE 1ADDITIONAL INFORMATION TO BE CONTAINED IN APPLICATIONS FOR AUTHORISATION OR APPROVAL

Regulations 4 to 6 and 9 to 11

1

In this Schedule—

  • “minimum funding valuation” means an actuarial valuation required by section 57(1)(a) or 57(2) of the 1995 Act M1 (valuation and certification of assets and liabilities);

  • “payment schedule” shall be construed in accordance with section 87 of the 1995 Act M2 (schedules of payments to money purchase schemes);

  • “schedule of contributions” shall be construed in accordance with section 227 M3 (schedule of contributions), and includes a schedule of contributions prepared by the trustees or managers for any purpose, including that of making an application under section 288 or 289;

  • “statement of funding principles” shall be construed in accordance with section 223 (statement of funding principles), and includes a statement of funding principles prepared by the trustees or managers for any purpose, including that of making an application under section 288 or 289.

Annotations:
Marginal Citations
M1

Section 57 is repealed by Schedule 13 to the Act.

M2

Section 87(5)(a) is repealed by Schedules 12 and 13 to the Act on a date to be appointed.

M3

Section 227 is modified in its application to schemes undertaking cross-border activities by regulation 19 of, and paragraph 6(2) of Schedule 2 to, S.I. 2005/3377.

2

The information about the scheme to be provided in an application for authorisation in accordance with regulations 4(2), 5(2) and 6(2) is—

a

the pension scheme registration number which is allocated to that scheme in the register,

b

a statement signed by the trustees or managers of the scheme that they have provided to the Regulator all the registrable information with respect to the scheme,

c

a statement signed by the trustees or managers of the scheme that the scheme complies with the requirements of section 252(2) and (3) (UK based scheme to be trust with effective rules),

d

a statement signed by the trustees or managers of the scheme that any requirements made by or under—

i

section 113 of the 1993 Act M4 (disclosure of information to members of schemes etc),

ii

section 35 of the 1995 Act M5 (investment principles), and

iii

section 36 of the 1995 Act M6 (choosing investments),

have been complied with, and

e

a statement signed by the trustees or managers of the scheme that—

i

where section 247 M7 (requirement for knowledge and understanding: individual trustees), and section 248 M8 (requirement for knowledge and understanding: corporate trustees) are in force on the day on which the application is made, any requirements made by or under those sections have been complied with, or

ii

where section 247 and section 248 are not in force on the day on which the application is made, any requirements made by or under those sections, or in any instrument made under either or both of those sections, will be complied with once those sections are in force.

Annotations:
Marginal Citations
M4

Section 113(1)(ca) was substituted by section 52(1) of the Child Support, Pensions and Social Security Act 2000 (c. 19) (“the 2000 Act”). Section 113(2)(b) is amended by S.I. 2005/2053. Section 113(2)(e) is inserted by Schedule 12 to the Act on a date to be appointed. Section 113(3A) was inserted by section 52(2) of the 2000 Act, and section 113(3B) is inserted by section 52(2) of the 2000 Act on a date to be appointed. Section 113(4) was amended by section 1(2)(a) of the Employment Rights (Dispute Resolution) Act 1985 (c. 8).

M5

Section 35 is substituted by section 244 of the Act.

M6

Section 36(1) and (1A) are substituted for section 38(1) as originally enacted by section 245(1) and (2) of the Act. Section 36(2) is repealed by section 245(1) and (3), and section 36(3) is amended by section 245(1) and (4), of the Act. Section 36(6)(a) was substituted by S.I 2001/3649. Section 36(8) is substituted by section 245(1) and (5), and section 36(9) is inserted by section 245(1) and (6) of the Act.

M7

Section 247 will be brought into force on a date to be appointed.

M8

Section 248 will be brought into force on a date to be appointed.

3

The information about a scheme to be provided in an application for authorisation in accordance with regulations 4(2)(a), 5(2)(a) and 6(2)(a) is the most recent payment schedule for the scheme.

4

The information about the scheme to be provided in an application for authorisation in accordance with regulation 4(2)(b) is—

a

a statement signed by the trustees or managers of the scheme that the scheme complies with the requirements of section 222,

b

a statement signed by the trustees or managers of the scheme that any requirements imposed by or under—

i

section 224 (actuarial valuations and reports),

ii

section 225 (certification of technical provisions), and

iii

section 227 (schedule of contributions),

have been complied with,

c

the most recent statement of funding principles for the scheme, and

d

an actuarial valuation for the scheme the effective date of which is within the period of 12 months ending on the date of the application.

5

The information about the scheme to be provided in an application for authorisation in accordance with regulation 5(2)(b) is the most recent minimum funding valuation for the scheme.

6

1

In this paragraph—

a

except in sub-paragraph (2)(c), references to the European employer are references to the European employer specified in the notice of intention, and

b

references to the provision of information in relation to one European employer shall include the provision of that information in relation to each European employer so specified.

2

The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulations 9(2), 10(2) and 11(2) is—

a

where—

i

the application for approval is not made on the same day as the application for authorisation, and

ii

the trustees or managers have not satisfied the Regulator that there has not been any material change in the information described in paragraph (2)(a) to (e) above since the application for authorisation was made,

the information so described in so far as there has been any material change in that information,

b

where the trustees or managers of the scheme have been authorised by the Regulator under section 288, the date on which such authorisation was granted,

c

where the trustees or managers of the scheme are already accepting contributions from a European employer, the name and address of that employer and the host member State of that employer, and

d

a copy of the scheme rules.

3

The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulations 9(2)(a) and 10(2)(a) is the most recent payment schedule for the scheme.

4

The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulation 9(2)(b) is—

a

where—

i

the application for approval is not made on the same day as the application for authorisation, and

ii

the trustees or managers have not satisfied the Regulator that there has not been any material change in the information described in paragraph 4(a) to (d) since the application for authorisation was made,

the information so described in so far as there has been any material change in that information, and

b

the most recent schedule of contributions for the scheme.

5

The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulation 10(2)(b) is the most recent minimum funding valuation for the scheme.

6

The additional information about the scheme to be contained in the notice of intention in accordance with regulation 11(2) is a statement signed by the trustees or managers of the scheme showing—

a

the rates of contributions which will be payable towards the scheme by or on behalf of the employer and the active members of the scheme, and

b

the dates on or before which such contributions are to be paid.

7

The additional information about the future activities of the scheme when it is approved in relation to the European employer to be contained in the notice of intention in accordance with regulations 9(2), 10(2) and 11(2) is—

a

the names of any member States other than the United Kingdom where the scheme already has members who are qualifying persons or qualifying self-employed persons,

b

where the scheme has established, or is intending to establish, a branch in the host member State, the address, e-mail address, telephone number and fax number of—

i

that branch, and

ii

all persons authorised to represent the scheme for the business of that branch,

c

the address, e-mail address, telephone number and fax number in the host member State of the European employer,

d

a description of the type of scheme to be offered to the European employer (including whether it will be defined contribution only, defined benefit, final salary, salary related or some form of hybrid),

e

the conditions to be met before benefits are, or will become, payable,

f

the types and rates of contributions to be paid towards the scheme by or on behalf of the European employer and those active members of the scheme in the host member State who are—

i

qualifying persons in relation to that European employer, or

ii

qualifying self-employed persons,

g

a description of any guarantees and additional coverage offered by the scheme,

h

a description of the categories of persons who are employees in the host member State of that European employer who cannot become members of the scheme, and

i

whether the assets or liabilities (or both) of the scheme which correspond to the activities carried out in the host member State will be ring-fenced.

SCHEDULE 2MODIFICATIONS OF PENSIONS LEGISLATION, AND RELEVANT LEGAL REQUIREMENTS FOR THE PURPOSES OF SECTION 293

Regulations 14 and 16

1

1

In this Schedule, a reference to a section of an Act includes a reference to any subordinate legislation made or having effect as if made under that section.

2

In this Schedule, “the 2000 Act” means the Child Support, Pensions and Social Security Act 2000 M9.

2

For the purposes of regulations 14 and 16—

a

the provisions of pensions legislation which are modified in their application to European members and European survivors of cross-border schemes, and

b

the relevant legal requirements for the purposes of section 293,

are the provisions listed in Column 1 of Table 1—

Table 1

Provision of the 1995 Act

Description of provision of the 1995 Act

Section 50(1) to (5) and (7) M10

Resolution of disputes

Annotations:
Marginal Citations
M10

Section 50 is substituted by sections 50, 50A and 50B by virtue of section 273 of the Act on a date to be appointed.

3

For the purposes of regulations 14 and 16—

a

the provisions of pensions legislation which are modified in relation to European members and European survivors of cross-border schemes, other than European members of a cross-border scheme which is a pre-23rd September 2005 scheme who became members of that scheme before the commencement date and European survivors of such members, and

b

the relevant legal requirements for the purposes of section 293,

are the provisions listed in Column 1 of Table 2 set out below—

Table 2

Provisions of the 1993 Act

Description of provisions of the 1993 Act

Sections 69 to 76 and 81 and 82 M11

Preservation of benefit under occupational schemes

Sections 83 to 86 M12

Revaluation of accrued benefits (excluding guaranteed minimum pensions)

Sections 93 to 98, 99(1) to (4A), (7)(a) and (8), 100 and 101 M13

Transfer values

Sections 101AA to 101AI M14

Early leavers: cash transfer sums and contribution refunds

Provisions of the 1995 Act

Description of provisions of the 1995 Act

Sections 51 to 54 M15

Indexation

Sections 91 to 94 M16

Assignment, forfeiture, bankruptcy etc.

Annotations:
Marginal Citations
M11

Section 70(1)(ii) is amended by S.I. 2005/2053. Section 71(3) was substituted by section 263(1) of the Act. Section 72(4) was inserted by section 263(2) of the Act. Section 73(2)(a)(ii) was amended by Schedules 2 and 13 to the 1999 Act.

M12

Section 83(1) was amended, and section 83(1A) and (4) were inserted, by Schedule 12 to the 1999 Act. Section 84(5) was repealed in part by Schedules 5 and 7 to the 1995 Act. Section 84(5)(b) and (6) are inserted by section 281 of the Act, and section 84(5) is amended by S.I. 2005/2053. Section 85 was amended by Schedule 12 to the 1999 Act.

M13

Section 93(1)(a) was substituted, and section 93(1A) and (1B) were inserted, by section 152 of the 1995 Act. Section 93(1ZA) was inserted by Schedule 12 to the 1999 Act. Section 94(1)(a) was amended, and section 94(1)(aa), (1A) and (3), and the definition of “the guarantee date” in section 94(2) were inserted, by section 154 of the 1995 Act. Section 94(1B) was inserted by Schedule 12 to the 1999 Act. Section 94(2) is amended, and section 94(2A) is inserted, by Schedule 12 to the Act. Section 95(1) was amended by Schedule 6 to the 1995 Act. Section 95(2)(c) was amended by S.I. 2001/3649. Section 95(4) was repealed by Schedules 5 and 9 to the 2000 Act. Section 96(2)(a) and (3)(a) were amended by Schedule 5 to the 1995 Act, and section 96(2)(a)(ii) was repealed by Schedules 2 and 13 to the 1999 Act. Section 96(3) is amended by S.I. 2005/2053. Section 96(4) was inserted by Schedule 12 to the 1999 Act. Section 97(2)(a) and (3)(b) were amended, and section 97(3A) was inserted, by Schedule 6 to the 1995 Act. Section 97(2)(aa) was substituted by Schedule 5 to the 2000 Act. Section 98(1), (2) and (3)(a) were amended, section 98(1A) was inserted and section 98(3)(aa) was substituted, by Schedule 6 to the 1995 Act. Section 98(5) and (8) were amended by Schedule 12 to the 1999 Act. Section 98(7) was amended, and section 98(7)(a) was repealed, by Schedules 5 and 9 to the 2000 Act. Section 99(2)(a) to (c) were substituted by Schedule 6 to the 1995 Act Section 99(3A), (7) and (8) were inserted, section 99(4) and (4A) were substituted for section 99(4) and (5) as originally enacted, and section 99(6) was amended, by Schedule 6 to the 1995 Act. Section 99(4) and (4A) are amended by Schedule 12 to the Act on a date to be appointed. Section 99(6) is repealed by Schedule 13 to the Act. Section 100(1) was amended, and section 100(2A) was inserted, by Schedule 12 to the 1999 Act.

M14

Sections 101AA to 101AI are inserted by section 264 of the Act.

M15

Section 51(1)(a)(i) is repealed in part by section 278(2)(a) of, and Schedule 13 to, the Act. Section 51(1)(a)(iii) is inserted, and section 51(1)(b) and (c) are substituted for section 51(1)(b) as originally enacted, by section 278(2)(b) and (c) of the Act. Section 51(2) was amended by section 51(1) of the 2000 Act and is further amended by section 278(3) of the Act. Section 51(4) is amended, section 51(4A) to (4C) are inserted, and section 51(5) is amended, by section 278(4), (5) and (6) of the Act. Section 51(6) was amended by Schedule 12 to the 1999 Act. Section 51ZA was inserted by section 278(7) of the Act. Section 51A was inserted by section 51(2) of the 2000 Act. Section 51A was inserted by section 51(2) of the 2000 Act. Section 53(3A) was inserted by Schedule 12 to the 1999 Act. In section 54(3), the definition of “appropriate percentage” was amended by Schedule 2 to the 1999 Act and is repealed by Schedule 13 to the Act. Section 54(3) is also amended by section 278(8) of the Act.

M16

Section 91(1), (2) and (5) were amended by Schedule 12 to the 1999 Act. Section 91(3) was repealed by Schedule 13 to the 1999 Act. Section 91(5)(f) is inserted, and section 91(6) is amended, by section 266 of the Act. Section 91(5) is amended by S.I. 2005/2053. Section 92(1) and (4) were amended by Schedule 12 to the 1999 Act. Section 92(2)(b) was repealed by Schedule 13 to the 1999 Act. Section 92(3)(b) is substituted by S.I. 2005/2053. Section 93(1), (2) and (4) were amended by Schedule 12 to the 1999 Act. Section 94(3)(c) and (e) were repealed by Schedule 13 to the 1999 Act. Section 94(3)(f) was inserted by Schedule 2 to the 1999 Act.

4

For the purposes of regulation 14, the other provisions of pensions legislation which are modified in their application to European members and European survivors of cross-border schemes are the provisions listed in Column 1 of Table 3 set out below.

Table 3

Provisions of the 1993 Act

Description of provisions of the 1993 Act

Section 99(7)(b) M17

Trustees' duties after exercise of option

Provisions of the 1995 Act

Description of provisions of the 1995 Act

Section 50(6)

Resolution of disputes

Annotations:
Marginal Citations
M17

Section 99(7)(b) was inserted by Schedule 6 to the 1995 Act.

5

For the purposes of regulation 16, the other relevant legal requirements for the purposes of section 293 are the provisions listed in Column 1 of Table 4 set out below.

Table 4

Provisions of the 1993 Act

Description of provisions of the 1993 Act

Sections 9 and 10 M18

General requirements for certification

Sections 12A to 12D M19

Requirements for certification of occupational pension schemes

Sections 13 to 21 and 23 M20

Requirements for certification of occupational pension schemes providing guaranteed minimum pensions

Sections 27 to 33 M21

Requirements for certification of occupational and personal money purchase schemes

Sections 37 and 39 M22

Alteration of scheme rules after certification

Section 45B M23

Money purchase and personal pension schemes: verification of ages

Sections 50 and 51 M24

Approval of arrangements for scheme ceasing to be certified

Sections 52 to 54 M25

Supervision of formerly certified schemes

Sections 55 to 58 and 61 to 63 M26

State scheme premiums

Sections 68A to 68D M27

Safeguarded rights

Sections 87 to 92 M28

Protection of increases in guaranteed minimum pensions (“anti-franking”)

Section 93A(1) to (3) M29

Salary related schemes: right to statement of entitlement

Sections 109 and 110 M30

Guaranteed minimum pensions

Sections 129 to 132 M31

Relationship between requirements and scheme rules

Section 159 M32

Inalienability of guaranteed minimum pension and protected rights payments

Provisions of the 1999 Act

Description of provisions of the 1999 Act

Sections 11 to 13

Pensions and bankruptcy

Section 40 M33

Other pension schemes